Groupe BPCE has reached an agreement with the Tunisian government to sell its 60% stake in Banque Tuniso-Koweitienne, the Tunisian bank said in a statement on Dec. 13.

The Tunisian state already holds 20% of the bank, and the acquisition will make it the lender's main shareholder.

The deal will be finalized in February on completion of regulatory approvals.

BPCE has been seeking to sell off its stakes in African banks to focus on its core activities.